Fennia Annual Report 2014

Net investment income on invested capital

Net investment income on invested capital

 

 

Market value of net investment returns 8)

Invested capital 9)

Yield, % on invested capital

 

2014

2014

2014

2013

2012

2011 10)

2010 10)

Return €/ % on inv. capital

EUR million

EUR million

%

%

%

%

%

Fixed-income investments, total

33.8

784.5

4.3

-0.1

9.2

   

Loans 1)

-2.6

37.8

-7.0

1.3

6.1

7.4

6.5

Bonds

33.6

647.6

5.2

-0.4

12.4

2.4

5.1

Other money market instruments and deposits 1) 2)

2.8

99.1

2.9

0.8

1.9

1.7

1.8

Equity investments, total

27.5

304.0

9.1

14.4

12.8

-9.7

18.7

Listed equities 3)

23.2

187.6

12.4

17.2

16.6

   

Private equity 4)

3.7

33.3

11.2

5.2

12.3

   

Unlisted equities 5)

0.6

83.0

0.7

10.1

0.1

   

Real estate investments, total

30.0

334.5

9.0

9.2

6.7

7.9

5.5

Direct real estate

25.0

284.1

8.8

10.6

5.9

   

Real estate funds and UCITS

5.0

50.4

10.0

-2.6

16.7

   

Other investments

1.1

11.0

10.1

20.8

-6.2

-14.9

-11.4

Hedge funds 6)

0.8

9.9

8.6

3.3

10.0

   

Other investments 7)

0.3

1.1

24.2

       

Total investments

92.5

1,434.0

6.4

5.4

9.3

1.0

7.0

Sundry income, charges and operating expenses

-3.2

           

Net investment income at current value

89.3

1,434.0

6.2

5.2

9.1

0.8

6.8

 

 

 

 

       

1) Includes accrued interests

2) Including cash at bank and in hand and settlement receivables and settlement liabilities

3) Including mixed funds, if these cannot be allocated elsewhere

4) Including private equity funds, mezzanine funds, and infrastructure investments

5) Including unlisted real-estate investment companies

6) Including all types of hedge fund shares, regardless of the fund’s strategy

7) Including items that cannot be allocated to other investment types

8) Change in the market values between the end and beginning of the reporting period – cash flows during the period.

Cash flows refers to the difference between sales/profits and purchases/costs

9) Invested capital = Market value at the beginning of the reporting period + daily/monthly time-weighted cash flows

10) The data for 2010–2011 is not entirely comparable with 2012–2014